Cardano’s venture arm partners with Korean trade associations to drive adoption 🚨 This article is 5 years old...
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Cardano’s venture arm partners with Korean trade associations to drive adoption
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Updated: Mar. 24, 2020 at 6:49 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Cardano’s official commercial and venture arm, Emurgo, signed a memorandum of understanding with two government-approved trade associations in Korea. The partnerships will focus on implementing Cardano for Korean digital content and mobile gaming.
Emurgo enters the Korean market
Cardano adoption continues to grow in Asia. The company’s official partner and commercial arm, Emurgo, partnered with two trade associations in Korea. According to an Aug. 20 press release, Emurgo formally signed a memorandum of understanding (MOU) with the Korea Blockchain Contents Association (KBCCA) and the Korea Mobile Game Association (KMGA), both of which are approved by the South Korean Ministry of Science and ICT.
The partnership will bring the companies together and help them develop Cardano’s blockchain-based solutions. Emurgo will work on integrating Cardano into the digital content and mobile gaming industries, two of the fastest-growing sectors in Korea.
Ken Kodama, the CEO of Emurgo, said that mobile gaming was a lucrative industry with a huge potential for blockchain implementation.
Korea’s gaming craze a perfect environment for blockchain
Considering that Korea has the highest smartphone penetration and mobile gaming rates in the world, the country is the perfect tech-savvy environment for driving blockchain-related adoption.
The high rate of smartphone ownership (9 out of 10 South Koreans own a smartphone) has made South Korea one of the biggest consumers of online content. An eMarketer study found that Korean adult consumers spend more than half of their time online on digital content platforms.
In combination with mature technological infrastructure, Korea will be a perfect place to implement Cardano’s third-generation blockchain-based solutions, Emurgo said in its press release. Leading game development and content creation enterprises, hundreds of which are members of both KBCCA and KMGA, will be able to benefit from these solutions.
We are yet to see whether these partnerships have any major effect on Cardano’s ADA, which saw a slight price increase in the past couple of days, growing over 6 percent between Aug. 21 and Aug. 22.
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Cardano
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
EMURGO
EMURGO Ventures is a wholly owned investment subsidiary of parent company EMURGO Ptd.
Ken Kodama is the CEO of EMURGO – the official commercial & venture arm of Cardano.